U.S. Diversified Gas & Oil Plc, an oil and gas producer, has closed on the acquisition of assets from peer HG Energy II Appalacia LLC, an affiliate of HG Energy LLC.
With a total investment $400 million, Diversified Gas added 107 producing wells to its portfolio.
Diversified Gas noted that the deal is immediately accretive and grows its daily production by around 30 percent to over 90,000 barrels oil equivalent per day.
The transaction was supported by a $234 million institutional share placing, with the remainder covered via an existing credit facility.